Wednesday, June 4, 2025
OPEC prepares for its 171st meeting to decide on production cuts

Saudi Aramco Raises Prices to Asia Following Domestic Gasoline Price Hike

Survey forecasts price of Arab Light OSP to Asia increasing $0.25-$0.60 per barrel Saudi Arabia plans to increase the price of its crude oil to Asia next month. The increase of OPEC’s largest producer’s official selling price (OSP) of its benchmark Arab Light to Asia comes in response to robust demand for its crude in Asian markets and to higher

Canada’s Cheapest Crude Hits Record Low at $19/Barrel

From the Calgary Herald Spot prices for Western Canadian Select fell to $19.81 a barrel on Wednesday, the lowest since tracking began in 2008, according to data compiled by Bloomberg. The benchmark, made up of heavy conventional production and bitumen blended with synthetic crude and condensate, fell with global grades after U.S. gasoline inventories surged the most in 22 years

Natural Gas Severance Tax Proposal Receives Mixed Reaction

From The Times State Rep. Jim Christiana last week said he wants to eliminate Pennsylvania’s impact fee on natural gas drilling and replace it with a severance tax, a proposal that is garnering mixed reactions from local stakeholders. Christiana, R-15, Beaver, said his proposed legislation would include an initial 3 percent severance tax starting on July 1. The tax would

Russia’s Yamal LNG Receives More Cash from China

New Chinese investment firm raises $6 billion in financing Russia-based Novatek’s (ticker: NVTK) Yamal LNG project has received a new infusion of capital from a new Chinese investment firm called China Insurance Investment Ltd. The firm is comprised of 46 Chinese companies who have raised 40 billion yuan ($6 billion) to finance energy and infrastructure projects overseas, reports Reuters. The